Canadians owe over $2.3 trillion. That amounts to $1.85 of debt for every $1 of disposable income. Faced with such debt, Canadians are seeking out solutions (and a consumer proposal Winnipeg can help – but we’ll talk about that later).
The State of Canada’s Finances
A recent report by TransUnion credit reporting bureau found that the number of Canadians with access to credit was close to 31 million at the end of March 2023. The good news is that some of that credit is good credit or credit for a mortgage.
The report stated that about three quarters of the debt noted above is mortgage debt. That means that there is still approximately $575 Billion of consumer debt. And consumer debt is my speciality as a Licensed Insolvency Trustee (LIT).
When faced with huge amounts of debt, things can seem overwhelming – hopeless, even. But just because the situation may seem hopeless doesn’t mean it is.
Far from it.
You can take proactive steps to reduce your debt and make it manageable. What are those steps? Contact Caplan Debt Solutions and ask about filing a consumer proposal Winnipeg.
How a Consumer Proposal Works
Listen, I’m not going to bore you with the same old financial tips you’ve heard a hundred times before. Save more, spend less, eat in, be thrifty, reuse goods, etc.
That’s all generally good advice, but these are small steps towards regaining your financial footing. When you’re faced with tens of thousands of dollars of debt like so many Canadians, skipping out on Starbucks hardly feels like the cure
That’s where a consumer proposal comes in.
A consumer proposal in Winnipeg will immediately put you back on the path towards solvency and financial freedom. How? Because a consumer proposal is a negotiated settlement between all your creditors and you (facilitated by an LIT) that ensures that you have a payment plan that is reasonable and sustainable.
Once approved by your creditors, you’ll have a single, consolidated payment to make and within a predetermined time period (established when you negotiate your consumer proposal) you’ll be debt free.
Best yet – you’ll get out from under your debt without losing your house and other precious assets.
Contact a Licensed Insolvency Trustee for Your Consumer Proposal Winnipeg
The team at Caplan Debt Solutions can help put your financial house back in order. Bruce Caplan has been doing that for over three decades now.
We can help you settle your debts through a Consumer Proposal or we can help get you out of debt with a bankruptcy Winnipeg.
You don’t have to be another statistic in the Canadians who owe money; you can take control of your finances and free yourself from debt.
We can help you reach that goal. All you have to do is call for your free consultation and we’ll help get you on the road to financial freedom.